AP SLBC pegs annual credit score plan outlay at ₹5.4-lakh crore for FY25

The Andhra Pradesh State-Stage Bankers Committee (SLBC) has pegged the annual credit score plan for the 12 months 2024-25 at ₹5.4-lakh crore, displaying 14 per cent enhance over the outlay of the final monetary 12 months.

The precedence sector received a lion’s share of the full annual credit score plan at ₹3.75-lakh crore, which included ₹2.64-lakh crore for agricultural actions. 

The credit score plan included ₹32,600 crore for bettering agriculture infrastructure, ₹87,000 crore for MSME sector, ₹11,500 crore for housing and ₹8,000 crore for renewable power sectors.

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Whereas addressing the banks, Chief Minister N Chandrababu Naidu, who presided over the assembly in Amaravati on Tuesday, requested banks to accord high precedence to the appealed agricultural sector with a trouble free mortgage sanction course of taking into consideration the credit score wants of the tenant farmers.

Stressing the necessity for higher coordination between the State authorities equipment and the banks for the graceful rollout of the credit score plan, Naidu stated a committee will likely be shaped quickly with bankers, ministers and agricultural specialists as members to attain desired outcomes and to put together plans for implementation of the choices of SLBC.